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Penn National Gaming Secures New York Sports Betting and Online Casino Market Access Through Strategic Partnership with Rivers Casino

Penn National Gaming, Inc. (PENN: Nasdaq) (“Penn National” or the “Company”) today announced that it has entered into a 20-year strategic partnership with Capital Region Gaming, LLC d / b / a Rivers Casino & Resort which will provide Penn Interactive, a wholly owned subsidiary of Penn National, with “second skin” access to the New York City mobile sports betting and iCasino market, subject to legislative passage and regulatory approvals.

“Obtaining potential access to what could become one of the country’s most lucrative sports betting markets has been a top priority for our company,” said Jon Kaplowitz, senior vice president of interactive games at Penn National. “We hope the New York State Assembly will follow the major revenue-producing states that allow multiple skins for mobile sports betting. A state the size of New York certainly justifies open competition and a free market approach, ”Kaplowitz said.

Penn Interactive currently offers online sports betting in two states – Pennsylvania and Michigan – and plans to operate its Barstool Sports mobile sports betting app in at least 10 states by the end of 2021. In addition, Penn Interactive launched its Barstool-branded iCasino in Michigan. February 1.

“We are very encouraged by the initial results that we have seen in Michigan as we registered over 48,000 new customers and generated a total of $ 27.5 million in the first 10 days of operation,” said said Kaplowitz. “We remain very confident in our ability to gain significant market share in new markets through the strength of the Barstool brand and media assets, which allows us to begin to capitalize on the significant cross-selling opportunities of Barstool Sportsbook. , iCasino and our mychoice audience of the loyalty program. We hope to bring our unique and exciting brand of sports entertainment and iCasino to the Empire State, ”concluded Mr. Kaplowitz.

About Penn National Gaming

With the largest and most diverse regional gaming presence in the country, comprising 41 properties in 19 states, Penn National continues to evolve into a highly innovative omnichannel provider of retail and online gaming, live racing and racing. sports betting entertainment. The Company’s properties include approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms, and operate under various well-known brands, including Hollywood, Ameristar and L’Auberge. Our wholly-owned interactive division, Penn Interactive, manages retail sports betting across the company’s entire portfolio, as well as online social casino, bingo and iCasino products. In February 2020, Penn National entered into a strategic partnership with Barstool Sports, under which Barstool will exclusively promote the Company’s land and online casinos and sports betting products, including the Barstool Sportsbook mobile app, to its national audience. The Company’s omnichannel approach is enhanced by the mychoice loyalty program, which rewards and recognizes its more than 20 million members for their loyalty to retail and online gaming and sports betting products with the most dynamic set. offers, experiences and levels of service in Industry.

About the Rivers Casino & Resort Schenectady

Located in scenic Mohawk Harbor, near the heart of downtown Schenectady, Rivers Casino & Resort Schenectady offers 1,150 slot machines, 67 live table games, a 16-table poker room and a betting house. luxury sportspeople live in the casino. The casino offers five distinctive restaurants, including Dukes Chophouse, Flipt, Johnny’s To-Go, and Mian. Rivers has a versatile event space, lively entertainment lounge – Van Slyck’s, concerts, free parking and daily promotions and giveaways. The Landing Hotel is a 165-room, six-story boutique hotel with river views, located next to the event center. Rivers, which opened in 2017, employs approximately 1,200 team members and has been voted a Great Place to Work in Schenectady. Rivers Casino & Resort Schenectady is owned and operated by Rush Street Gaming and its affiliates. For more information, visit RiversCasino.com/Schenectady

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking terms such as “expects”, “believes”, “estimates” , “Projects”, “intentions”, “plans”, “objectives”, “seeks”, “can”, “will”, “should” or “anticipate” or negative or other variations of these or similar words, or through discussions of future events, strategies or risks and uncertainties. More specifically, forward-looking statements include statements regarding the Company’s expectations regarding future operating results and financial condition; the Company’s ability to obtain a second skin in New York, which is subject to legislative and regulatory approvals; the Company’s expectations regarding its ability to gain increased market share based on the Barstool brand and media assets; the Company’s ability to launch the Barstool branded mobile sports betting application in future states in 2021 and its future contributions to revenues and profits; actions of regulatory, legislative, executive or judicial decisions at federal, state or local level with respect to online sports betting, iGaming and retail / mobile sports betting and the impact of such actions; and our expectations regarding economic and consumer conditions. These statements are all subject to risks, uncertainties and changes in circumstances which could significantly affect the financial results and future activities of the Company.

Accordingly, the Company cautions that the forward-looking statements contained in this document are qualified by important factors which could cause actual results to differ materially from those reflected by such statements. These factors include, but are not limited to: (a) the magnitude and duration of the impact of the COVID-19 pandemic on general economic conditions, capital markets, unemployment, consumer spending and liquidity, financial condition, supply chain, Company operations and personnel; (b) industry, market, economic, political, regulatory and health conditions; (c) operational disruptions due to data protection breaches, cyber attacks, extreme weather conditions, epidemics or medical pandemics such as COVID-19 (and recurrences) and other natural or caused disasters man-made or catastrophic events; (d) the impact of significant competition from other companies for online sports betting, online gaming and sports betting; (e) the Company’s ability to obtain timely regulatory approvals (including in New York) necessary to own, develop and / or operate sports betting may be delayed and there may be obstacles and increased costs to launch online betting, iGaming and sports betting, including delays, and increasing costs, intellectual property, and legal and regulatory challenges; and (f) other factors as discussed in the Company’s annual report on Form 10-K for the year ended December 31, 2019, subsequent quarterly reports on Form 10-Q and current reports on the Form 8-K, each filed with the United States. Security and Trade Commission. The Company does not intend to publicly update any forward-looking statements, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events described in this press release may not occur.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210222005482/en/

Contacts

Eric Schippers
Senior Vice-President, Public Affairs
610-373-2400

Joseph N. Jaffoni, Richard Land
JCIR
212-835-8500 or [email protected]


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